Tomáš Nidetzký becomes the new Chairman of the Board of Directors of NRB

Tomáš Nidetzký UB

As of May 1, Tomáš Nidetzký was appointed as the new Chairman of the Board of Directors of the National Development Bank (NRB). He replaces Jiří Jirásek, who led the Bank from January 2016 to the end of April. His mission in the NRB will aim at strengthening the importance of financial instruments in the Czech economy, dedicated to enabling long-term support of national economic policies.

The National Development Bank was established in 1992. Since its establishment, it has provided support to the private and public sector in the form of guarantees and loans in the total volume exceeding CZK 500 billion (EUR 21bn). “As a specialised state bank, the National Development Bank manages products and offers advisory services under programmes financed both from the Czech and the EU budgets. The Bank has a long-standing and successful focus on supporting the small and medium-sized businesses, to which it will continue to be a partner in the future. My aim is to exploit our potential in other areas such as public infrastructure financing, with the support of both the public and private sectors. When speaking about the consolidation of public finances and continued support of economic development, the role of financial instruments in the economy should be significantly strengthened at the expense of grant financing. Despite a very well-functioning banking sector, the role of the NRB in the implementation of the state’s economic policy priorities is irreplaceable, as proved by the experience from other countries with strong promotional banks such as German KfW or Polish BGK,” says Tomáš Nidetzký.

“I would also like to push for closer cooperation between the Bank and other state institutions. An example from the financial sector could be cooperation with the Czech Export Bank (CEB) or the Export Guarantee and Insurance Corporation (EGAP), with the aim of greater coordination of our activities and the use of the potential for synergies for both the state and our clients,” adds the new Chairman of the Board of Directors of the National Development Bank.

Tomáš Nidetzký served as a member of the Czech National Bank Board from 2016 to 2022 and was the Deputy Governor since December 2018. Prior to that, he worked in a number of senior management positions in various parts of the financial and insurance segments, including NN Insurance and Pension Company, Pojišt’ovna České spořitelny, Stavební spořitelna České spořitelny, ČSOB Pojišt’ovna and ING Financial Group. From 1999 to 2004 he served as a member of the Presidium of the Association of Pension Funds of the Czech Republic and the Czech Association of Insurance Companies. At the beginning of his career, he worked at the Securities Centre, Komerční banka and Česká spořitelna. He graduated from the Faculty of Informatics and Statistics at the University of Economics in Prague and completed postgraduate studies at Oklahoma City University in the USA.

The other members of the NRB’s Board of Directors are Pavel Křivonožka, who is responsible for the business management, and Pavel Fiala, who heads the Section of Finance. Pavel Křivonožka joined the Bank in 2020, previously serving in the Raiffeisenbank as a Head of Capital Markets Sales and Head of Financial Institutions and Equities. Pavel Fiala has been with the NRB since 2003, having led the Risk Management Department for more than twenty years, before being appointed Member of the Board in 2020.

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